Tag Archives: foreign exchange markets

Technical analysis of ETH/USD for 25/02/2020:

Crypto Industry News:Sarah John, the chief treasurer of the Bank of England (BoE), expressed opinions on digital currencies issued by the state, according to an article published by financial media. She called on other central banks to consider developing a central bank cryptocurrency in response to recent movements of private companies in the digital payments sector.John said it was “really important” to consider central banks to think of “central bank digital currencies” as “options” in response to the efforts of large technology companies to develop stablecoins.A BoE official warned that inaction could cause regulators to be forced to catch up with private companies in the digital payments arena, claiming that “it is crucial that central banks” consider whether the public or private sector would be the best to provide digital currencies in the future “.John’s statements appear a few days after Randal Quarles, chairman of the Financial Stability Board (FSB), urged G20 members to accelerate efforts to develop a regulatory apparatus for virtual currencies and Stablecoins.In a letter sent to governors of central banks and finance ministers, Quarles emphasized the speed of innovation in digital payments and the emerging stablecoin sector, deciding to “accelerate the pace of developing the necessary regulatory…

GBP/USD: plan for the European session on February 25. Buyers of the pound are counting on good news on trade negotiations

To open long positions on GBPUSD, you need:
On Monday morning, the British pound fell. However, the bulls quickly took control of the market, forming the lower border of the ascending channel already in the North American session, which I drew attention to in my review yesterday. While trading is above the intermediate support of 1.2933, which acts as the middle of the wide side channel of 1.2890-1.2980, we can expect the pound to return to the maximum of last week in the area of 1.2978 and its update, which will lead to a test of the area of 1.3020, where I recommend taking the profits. Without such a scenario, talking about the long-term advantage of buyers will not be entirely true, especially since the beginning of trade negotiations between the UK and the EU promises to be very problematic. If the bulls do not cope with this task, most likely, the pressure on the pound will return. So, it is best to open new long positions after forming a false breakdown in the support area of 1.2889 or immediately on a rebound from the minimum of 1.2851.
To open short positions on GBPUSD, you need:
The sellers of the pound will try to…

What Are The Major Institutions Trading? | Weekly COT Report (24/2 to 28/2)

The COT Report shows the long and short positions of the major institutions – which currencies they are the most bullish on and which currencies they are the most bearish on. This information is very useful for swing traders who hold positions for more than a day.The currency with the strongest bullish bias would be the USD, with Institutions adding more long contracts and at the same time also reducing the amount of short contracts that they were holding onto.The currency with the strongest bearish bias would be the NZD, AUD and following behind the JPY. Institutions are currently holding more shorts and also adding alot more short positions.The best plays this week would be to:1) Long USD/JPY2) Short AUD/USD and NZD/USDThe material has been provided by InstaForex Company – www.instaforex.com…

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Oil Ends Sharply Lower On Virus Jitters

Crude oil prices plunged sharply on Monday amid rising concerns about the outlook for energy demand due to the rapidly spreading coronavirus outside China. According to reports, the number of new cases of coronavirus infection is rising in South Korea, Iran, Afghanistan and Italy. A report from Reuters, quoted Saudi Aramco CEO Amin Nasser as saying the coronavirus impact will be “short term”. This probably pulled oil prices from the day’s lows. West Texas Intermediate Crude oil futures for April ended down $1.95, or about 3.7%, at $51.43 a barrel, after falling to a low of $50.45 in the session. Brent Crude futures declined $2.20, or about 3.8%, to $56.30 a barrel. On Friday, WTI Crude oil futures for April ended down $0.50, or about 0.9%, at $53.38 a barrel. South Korea has raised its coronavirus alert to the “highest level” for the first time in a decade, following a rapid spike in cases over the weekend. Reports say the total number of cases so far in South Korea has risen to 763. Italy became Europe’s epicenter for coronavirus cases over the weekend. Iran has confirmed an uptick in infections. Italian bank Intesa Sanpaolo has reportedly decided to…

*Israel CB Holds Key Interest Rate Unchanged At 0.25%

Israel CB Holds Key Interest Rate Unchanged At 0.25% The material has been provided by InstaForex Company – www.instaforex.com…

Canadian Dollar Falls As Oil Prices Plunge On Heightened Virus Fears

The Canadian dollar declined against its major trading partners in the European session on Monday, as oil prices tumbled on surging coronavirus infections in Italy and South Korea, triggering concerns about a global pandemic. Crude for April delivery fell $1.97 to $51.37 per barrel. While the number of infections rose in Italy and South Korea; Afghanistan, Bahrain and Kuwait confirmed their first cases. The Chinese government has decided to postpone the annual meeting of parliament that was scheduled to start on March 5. More than 160 cases were reported in South Korea and Italian cases soared above 150. Oil prices tumbled on fears that diminished economic activity will curb demand for energy. The loonie declined to near a 2-week low of 1.3308 against the greenback, from last week’s closing value of 1.3221. Versus the euro, the loonie was down at 1.4402, its lowest since February 13. Should the loonie falls further, it may find support around 1.35 against the greenback and 1.47 against the euro. The CAD/JPY pair fell to 83.62, marking a 5-day low. The loonie is seen finding support around the 82.00 region. The loonie dropped to a 4-day low of 0.8778 against the aussie, after rising…

Latvia Jobless Rate Steady In Q4

Latvia’s jobless rate remained stable in the fourth quarter, figures from the Central Statistical Bureau showed on Monday. The jobless rate was 6.0 percent in the fourth quarter, same as seen in the previous three months. In the corresponding quarter last year, the unemployment rate was 6.9 percent. The number of unemployed persons decreased by 1,000 persons to 57,900 persons in the fourth quarter. The youth unemployment rate among the 15-24 age group, rose to 10.1 percent in the fourth quarter from 11.3 percent in the preceding quarter. In 2019, unemployment rate was lowered by 1.1 percentage points to 6.3 percent from the last year. The youth jobless rate rose to 12.4 percent in 2019 from 12.2 percent in the last year. The material has been provided by InstaForex Company – www.instaforex.com…